Raymond James Financial Services Advisors Inc. Reduces Stake in Workday, Inc. (NASDAQ:WDAY)

Raymond James Financial Services Advisors Inc. lowered its stake in shares of Workday, Inc. (NASDAQ:WDAY – Get Rating) by 19.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,988 shares of the software maker’s stock after selling 2,151 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Workday were worth $1,368,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of WDAY. Whittier Trust Co. grew its holdings in Workday by 69.0% during the third quarter. Whittier Trust Co. now owns 213 shares of the software maker’s stock valued at $32,000 after purchasing an additional 87 shares during the period. Lindbrook Capital LLC grew its stake in shares of Workday by 72.6% during the 2nd quarter. Lindbrook Capital LLC now owns 252 shares of the software maker’s stock worth $35,000 after acquiring an additional 106 shares during the period. Fieldpoint Private Securities LLC increased its holdings in Workday by 68.0% in the 2nd quarter. Fieldpoint Private Securities LLC now owns 252 shares of the software maker’s stock worth $35,000 after acquiring an additional 102 shares during the last quarter. Venture Visionary Partners LLC bought a new stake in Workday in the 2nd quarter valued at about $38,000. Finally, CoreCap Advisors LLC purchased a new stake in Workday during the second quarter valued at about $38,000. Institutional investors own 66.98% of the company’s stock.

Analysts Set New Price Targets

WDAY has been the subject of several recent research reports. Mizuho reduced their target price on shares of Workday from $220.00 to $200.00 in a research note on Wednesday, November 30th. Credit Suisse Group lowered their target price on shares of Workday from $215.00 to $195.00 and set a “neutral” rating on the stock in a report on Monday, December 5th. Cowen raised their price target on Workday to $225.00 in a report on Monday, December 12th. Moffett Nathanson assumed coverage on Workday in a research note on Monday, January 9th. They set an “outperform” rating and a $245.00 price objective on the stock. Finally, Morgan Stanley dropped their price objective on Workday from $282.00 to $220.00 and set an “overweight” rating on the stock in a report on Tuesday, November 22nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $215.09.

Insider Activity at Workday

In other Workday news, Director George J. Still, Jr. sold 5,000 shares of Workday stock in a transaction that occurred on Friday, December 2nd. The stock was sold at an average price of $169.38, for a total transaction of $846,900.00. Following the sale, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $1,693,800. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director George J. Still, Jr. sold 5,000 shares of the company’s stock in a transaction on Friday, December 2nd. The stock was sold at an average price of $169.38, for a total value of $846,900.00. Following the sale, the director now directly owns 10,000 shares of the company’s stock, valued at $1,693,800. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Aneel Bhusri sold 2,787 shares of the firm’s stock in a transaction on Thursday, January 5th. The shares were sold at an average price of $161.72, for a total value of $450,713.64. Following the transaction, the chief executive officer now directly owns 415,722 shares of the company’s stock, valued at approximately $67,230,561.84. The disclosure for this sale can be found here. Insiders have sold 119,548 shares of company stock worth $20,795,439 over the last 90 days. 21.74% of the stock is owned by company insiders.

Workday Price Performance

WDAY opened at $167.54 on Friday. The stock’s 50 day moving average price is $162.94 and its 200-day moving average price is $158.61. Workday, Inc. has a 52-week low of $128.72 and a 52-week high of $260.46. The stock has a market capitalization of $43.06 billion, a PE ratio of -135.11 and a beta of 1.27. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.87 and a current ratio of 1.87.

Workday (NASDAQ:WDAY – Get Rating) last issued its quarterly earnings data on Tuesday, November 29th. The software maker reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.18. Workday had a negative net margin of 5.29% and a negative return on equity of 2.11%. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same period in the previous year, the firm earned $0.97 EPS. The company’s quarterly revenue was up 20.5% compared to the same quarter last year. On average, equities research analysts predict that Workday, Inc. will post -0.44 EPS for the current year.

Workday declared that its Board of Directors has initiated a share buyback plan on Tuesday, November 29th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the software maker to reacquire up to 1.2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Workday Company Profile

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Workday, Inc provides enterprise cloud applications in the United States and internationally. The company's applications help its customers to plan, execute, analyze, and extend to other applications and environments, and to manage their business and operations. It offers a suite of financial management applications, which enable chief financial officers to maintain accounting information in the general ledger; manage financial processes; identify real-time financial, operational, and management insights; enhance financial consolidation; reduce time-to-close; promote internal control and auditability; and achieve consistency across finance operations.